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What is Revolut?

Revolut is a digital ‘challenger bank’, offering hassle free global spending. Its app is elegant and simple and Revolut prides itself on being a “world beyond banking, working for those who never stop moving forwards.”

Revolut on the rise

Users tripled, from 450,000 to 1.3 million in the same period (now approaching to 3 million)

Monthly transaction volumes jumped from $200 million to $1.5 billion

How does Revolut work?

After you sign up, you can request a contactless Revolut card. Customers have complete control over their card, with the ability to freeze and unfreeze it at the touch of a button, a feature that provides added security and convenience.

The app is simple, easy to navigate and streamlined. Features include:

Accounts: View the balance and transaction history on your accounts. You can hold a physical balance on the app in 16 currencies.

Payments: The app enables you to transfer money to 25 countries, fee-free, at the interbank exchange rate (the same rates banks give each other).

Pay friends: Pay friends with ease or use the split bill feature to divide a group spend.

When will your Revolut card be delivered?

After you’ve placed your order, your Revolut card should be dispatched the next working day. Standard delivery can take up to 9 days, while express delivery to the UK, US and Canada will get you your card in 2 working days. For all other countries express delivery should take 3 business days.

Customers are warned, though, that these are estimated delivery times. It may take longer.

Using Revolut abroad

Revolut’s most unique and appealing feature is that it enables you to spend fee-free at the interbank rate in 150 currencies.

When spending abroad, it’s common that a portion of holiday funds go on transaction fees or hidden charges.

Revolut provides customers with international spending freedom, making the account popular with holidaymakers and travelers.

For more details about sending money overseas, head to our international money transfer section to find everything you need to know to find a cheap deal.

If you're travelling abroad

If you are heading overseas and are thinking about travel money, head to our travel money section for the cheapest deals on foreign currencies, or to our travel section for tips on how to get cheap flights!

Revolut fees, limits and pricing

Card Transactions: Free in 120 countries.

Bank Transfer: Fee-free, at the interbank rate, in 24 currencies. Although it charges 0.5% for transfers that exceed £5000 a month.

Withdrawals: Free ATM withdrawals of up to £200 per month. After this limit there is a 2% fee.

Overdraft: You cannot enter an overdraft. If a purchase exceeds your available funds the transaction will be declined.

Is Revolut safe?

The smartphone app is protected by a password or fingerprint ID. Immediately freeze or unfreeze your card in the app if it’s been misplaced, lost or stolen. Add further control by turning online, ATM and contactless payments on or off.

Revolut has recently launched its disposable virtual card to tackle online fraud. When a customer makes an online payment with a disposable card, Revolut will detect the transaction and automatically destroy those card details, generating new ones that will appear directly in the app.

How to top up with Revolut?

Linking your main bank account with your Revolut card lets you top up instantly. Just head to the app and do the following:

The first time you top up you have to link a main bank account with your Revolut card. Go into the app and put in your 16-digit card number, expiry date, CVC code, and billing postcode.

Make sure the address is correct otherwise the payment might fail to go through.

Press the ‘+’ symbol in the top left corner of the accounts screen.

Add the card you want to top up from, and choose the amount you want to add into your Revolut account.

Tap top up and the money will go into your account instantly.

Another top up option Revolut offers is the automatic top up feature. With this, you get the app to automatically top up your Revolut account from your main card if it drops below a certain amount.

How to use Revolut’s virtual card?

It is a card you can only use for online transactions. Buying shoes off ASOS, or paying your Netflix subscription, for instance. Or maybe paying Deliveroo or UberEATS. It can’t be used for recurring payments like paying for rent (though you can still set up a recurring payment in the app).

So what’s the point of it this card? Can’t you just use your physical card for everything?

Well, the idea is that it’s safer. You can freeze your virtual card, and set monthly spending limits. On top of this you can delete the virtual card every few months, making it harder for fraudsters to steal your details and clone your card.

To use it, head to the ‘cards’ section in your app and scroll to your virtual card. Simply use the displayed card number and cvv at checkout.

However, Revolut’s real show pony is its “disposable” virtual card. They’re only available to premium users, though. After every online transaction Revolut deletes your virtual card and gives you a new one. Revolut says this has reduced fraud by 30%.

How does the app look?

Real-time info

Even contactless payments show up instantly in the app.

Visualise your spending

See exactly how much you have left to spend and see your transactions broken into categories.

Split the bill

Split a bill with anyone from your phone contacts. Divide it up evenly or choose specific amounts.

Freeze your card if it gets lost

If your card is lost or stolen, you can temporarily freeze the card in the app and stop anyone using it.

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

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What is Revolut cryptocurrency?

When it comes to cryptocurrencies, Revolut stands out from its competitors. In 2017, it became the first challenger bank to let customers buy cryptos in its app.

What’s more, it’s incredibly easy for anyone to use cryptocurrencies like Bitcoin with Revolut. Revolut’s aim is to make them accessible, so you don’t have to be a tech whizz to get your hands on them.

Unlock: With a basic Revolut account you have to invite three friends to app before you can “unlock” the crypto feature in the app. Premium account holders get it automatically.

Exchanges: Exchange one of the 25 base currencies in the app for one of its crypto options. So, change Pound Sterling into XRP, or change Euros into Bitcoin. The choice is yours.

Real-time rates: Real-time cryptocurrency graphs show you current rates. Plus set up price alerts to hear when your cryptocurrency hits a certain value.

Fees: Revolut do charge a 1.5% markup for the transaction. Revolut says it gives the best possible exchange rates, but it’s certainly worth taking a look at your other options if your looking at delving into cryptocurrencies.

Send to friends: Transfer cryptocurrencies to other Revolut users for free.

Risks: Revolut does still warn that the value of cryptocurrencies can rapidly increase or decrease at any time, so you the customer are at risk. As well as gains, you could make some serious losses.

Pros and cons of Revolut

Pros

24 currencies can be held on your account. Exchange between them is instant.

Spend abroad with no fees.

24-hour customer service.

User-friendly app with control over accounts and cards.

Interbank exchange rate.

Instant top ups from your main account.

Cons

At weekends, when the markets are closed, Revolut applies a mark up of 0.5% on major currencies and 1% on other currencies on its rates.

You are always charged at least a 1% markup for currencies like the Thai Baht, Russian Rubbles,Ukrainian Hryvnia and the Turkish Lira. This rises to 2% on weekends.

Foreign exchanges over £5000 a month come with a 0.5% fee.

The card can take up to nine working days to arrive, so you need to be prepared if you’re travelling!

Free cash withdrawals are limited to £200 a month.

No branches, which can put off those who prefer face-to-face customer service.

FAQs

There is the optional premium subscription fee and Revolut also earns a nominal fee paid to it by merchants every time you spend on your Revolut Card. There are also other fees including excess ATM withdrawals, card delivery fees, exchange rate fees under some circumstances. Business customers also pay fees depending on their top up limits.

There are no deposit fees, no subscription fees and no exit fees. However, Revolut charge a 1.5% markup on the average exchange price.

Yes! Revolut is accepted in all retail outlets that accept prepaid Mastercards.

To verify your identity you will need to go to ‘Profile’ under the ‘More’ section of the Revolut app, tap ‘Personal details’, and verify your identity. You will need to take a picture of a valid government-issued photo ID and a picture of your face.

You can contact Revolut on +442033228352 or through the in-app chat. The in-app chat is available Mon-Fri 6am-10pm and Sat-Sun 12pm-6pm

Revolut is a great option for travelling to multiple countries. You can top up your card in your home currency (eg. GBP) and then let Revolut automatically exchange your money to the local currency whenever you use your card. They will exchange the money at their advertised exchange rate and won’t charge you any fees.

Not at all. If you top up your card in your home currency (eg. GBP), Revolut will automatically exchange your money to the local currency of wherever you use your card.

Revolut currently only supports countries in the European Economic Area and Switzerland. So, you can only get a card if you’re a legal resident from one of the following countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom for now. But they are launching across the world soon, so stay tuned.

Yes, you need the app installed on your Android or iOS device.

UK account to GBP Revolut account: First, you need to access your profile by going to the ‘more’ option in the app’s drop-down. Then click on ‘account details’. Here you’ll find your GBP account number and sort code.

European account to GBP Revolut account: You’ll need your IBAN details with your unique reference code. Find them through the same process as above.

European account to Euros Revolut account:Perhaps you live in a European country outside the UK? Or you’re holidaying in Europe? Either way, you might want to top-up in euros from another European currency (like GBP). Follow a similar process to the above steps but create a Euro account. Use your personalised IBAN and send the funds as a SEPA payment with REVOGB21 as BIC and not via SWIFT if you transfer from a European bank account.

Account outside Europe into European account: Use the SWIFT details with your unique reference number when you transfer from outside the Single Euro Payments Area. Any SWIFT transfer to your local Revolut account will be rejected and returned with applicable fees applied. So if you’re trying to get paid by an American company in pounds, get them to do it via SWIFT. Or it will cost you money!

Other currencies: To top-up currencies other than pounds or euros, then ensure the reference/description for your transfer is the 8-digit reference number highlighted in pink with no other text.

A final word of warning: Revolut advises you to create an account which has a currency reflecting that the bank the money is being transferred from – to avoid bad exchange rates. So if you’re working in Australia, make an account for AUD. Or in the UK, make a GBP account. So you might want to avoid the second step from above.

Yes! Revolut acts like a traditional UK current account when you use your card in the UK. It is accepted in all retails outlets and venues that accept prepaid Mastercards.

Yes. The amount may vary but for most news users there is a daily top-up limit of between £1000-£3000. Some users may have a lower limit, although this will increase over time.

Revolut supports over 150 currencies, so you can travel and use the card around the globe. Europe, South America, North America, Africa, Asia and Australasia are all covered to some extent. Check Revolut’s website to make confirm specific country coverage.

Yes. You cannot transfer more than £75k in or out of the account per 24 hours and the weekly limit is £125k combined.For international cross-currency transfers, it is free of charge to send up to £5,000 or €6,000 each month. Anything more than that amount, a fee of 0.5% will be applied. However, if you’re paying from euros you can choose how much you want to convert into pounds and leave the rest in euros. So you don’t necessarily have to be charged the 0.5%.

Yes. The insurance will cover unforeseen events, accidents, serious illness or bodily injury during your period of insurance. However, they will not cover pre-existing conditions which are not on their “acceptable conditions” list.

You certainly can top up your Monzo using Revolut. On Monzo it just shows as top-up, Revolut shows it as payment.

A multi-currency mobile banking app that aims to be ‘built around you’. Use it to open a fully functional current account instantly, straight from your phone, all supported by a feature-rich mobile app

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

87 Responses

AdamDecember 16, 2018

Hi! I am travelling to Tunisia. I am wondering if my Revolut card would work there? Also, can I receive money from home (UK) on it whilst I am there?

A couple of questions:
– My card currently only has £10.00 on it, so I assume that I have to top it up with say around £500.00 to pay my bill on my card. Is that correct?
– Will this cost me anything?
– If I place more money on my card than I need, can I remove it and transfer it back to my bank?

Thanks for getting in touch with finder. I hope all is well with you. :)

It is understandable that you are concerned with how Revolut could affect your score. Upon checking, Revolut does not perform hard credit enquiry but only soft enquiry. This means that Revolut does not affect your credit score.

Moreover, since Revolut is more of a debit card, it has no effect on your credit score no matter how you use it.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

If you signed up through finder, you are eligible for a free Revolut card via standard delivery. You can go to the ‘Cards’ section of the app to order your first standard physical card for free. However, before you can order your card, you need to top up your account with a minimum of £10 which you can also spend, withdraw, or transfer to a bank account anytime.

Deposits using credit or debit card are available to most Neteller members worldwide however acceptable cards vary depending on your country of residence.

You can go to the “Money In” section within your Neteller account to view the acceptable cards. If you are unable to locate your card logo, it means Neteller currently does not accept that type of card in your area.

Hello.
I’ve just opened a Monzo account as I need to transfer my money from my home country to the UK (where I’m living right now).
But only after receiving my Monzo card I found out that Monzo cannot receive transfers from abroad for now.
Therefore I’ve opened a Revolut account (which I didn’t do on the first place only because I’ve read Monzo gives all traditional banking guarantees that Revolut doesn’t).

Now, since I wouldn’t want to pay the delivery of a Revolut card because I already have a Monzo card, and since Revolut IS enabled for international transfers, MY QUESTION IS: can I use a Revolut virtual card to top up my Monzo account?
I am basically thinking of
1. transferring money from my home country bank to my Revolut account and then of
2. using a Revolut virtual card to top up my Monzo account.

The number will be n in the “Pending transactions section” of your online account. If you do not find it there, you will have to contact support via the Revolut app or Twitter and Facebook. They are very responsive to messages and will sort this out for you.

Thanks for getting in touch with finder. I hope all is well with you. :)

You can change your address anytime if you haven’t verified your account yet. However, if you have already verified it, you need to contact Revolut’s in-app support and provide a proof of address of your new address.

It would be a good idea to review your policy’s terms and conditions to confirm. However, the insurance policy of Revolut covers overseas emergency medical assistance and expenses. So, you should be covered even if you leave the UK.

To get a more personalised answer, please check with Revolut directly.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

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